Pegasystems (PEGA) Raised to Hold at BidaskClub

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BidaskClub upgraded shares of Pegasystems (NASDAQ:PEGA) from a sell rating to a hold rating in a research note published on Monday.

Several other research analysts have also weighed in on PEGA. Zacks Investment Research lowered shares of Pegasystems from a strong-buy rating to a hold rating in a research note on Wednesday, May 2nd. TheStreet lowered shares of Pegasystems from a b rating to a c+ rating in a research note on Thursday, May 24th. Wedbush reaffirmed an outperform rating and set a $76.00 target price on shares of Pegasystems in a research note on Tuesday, June 5th. Finally, ValuEngine lowered shares of Pegasystems from a buy rating to a hold rating in a research note on Friday, June 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $69.80.

Shares of PEGA stock opened at $63.05 on Monday. The stock has a market cap of $4.95 billion, a price-to-earnings ratio of 288.52, a P/E/G ratio of 47.25 and a beta of 1.00. Pegasystems has a 1-year low of $45.40 and a 1-year high of $67.95.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, August 8th. The technology company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.35). The company had revenue of $196.78 million for the quarter, compared to analysts’ expectations of $217.24 million. Pegasystems had a positive return on equity of 0.01% and a negative net margin of 0.43%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.05 EPS. equities analysts forecast that Pegasystems will post 0.17 EPS for the current year.

In other news, Director Steven F. Kaplan sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $65.16, for a total value of $651,600.00. Following the completion of the transaction, the director now owns 44,776 shares of the company’s stock, valued at $2,917,604.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 1,949 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $54.44, for a total transaction of $106,103.56. Following the completion of the transaction, the chief financial officer now directly owns 13,749 shares of the company’s stock, valued at approximately $748,495.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,216 shares of company stock valued at $1,771,349. 52.85% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of PEGA. Millennium Management LLC boosted its stake in shares of Pegasystems by 1,296.9% in the first quarter. Millennium Management LLC now owns 509,618 shares of the technology company’s stock valued at $30,908,000 after purchasing an additional 473,137 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Pegasystems in the second quarter valued at approximately $11,618,000. AO Asset Management LP purchased a new position in shares of Pegasystems in the first quarter valued at approximately $10,547,000. Renaissance Technologies LLC boosted its stake in shares of Pegasystems by 229.8% in the second quarter. Renaissance Technologies LLC now owns 242,824 shares of the technology company’s stock valued at $13,307,000 after purchasing an additional 169,200 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in shares of Pegasystems by 5,334.8% in the first quarter. Summit Trail Advisors LLC now owns 120,815 shares of the technology company’s stock valued at $121,000 after purchasing an additional 118,592 shares during the period. 45.43% of the stock is owned by institutional investors and hedge funds.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients to build and extend their own applications.

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